Central Warehousing Corporation (CWC) has acquired the business undertaking of Central Railside Warehouse Company Limited (CRWC) via slump sale for an undisclosed amount.
Lakshmikumaran and Sridharan acted as the legal counsel for CWC and CRWC and advised them on legal, tax, structuring and regulatory aspects of the transaction including preparing deal related documents, conducting negotiations and legal due diligence of CWC and CRWC.
The LKS Corporate and M&A team consisted of Sudish Sharma (Executive Partner), Shivank Arora (Principal Associate), Sonali Srivastava (Senior Associate), Apurva Jain (Senior Associate), Pratham Soni (Senior Associate), Ayushi Agarwal (Associate) and Prachi Yadav (Associate).
The LKS Direct Tax team consisted of S Vasudevan (Executive Partner), Harshit Khurana (Principal Associate) and Aman Baid (Associate).
The LKS Indirect Tax team consisted of Shweta Walecha (Director) and Arushi Jain (Principal Associate).
The LKS Competition and Antitrust Law team was led by Neelambera Sandeepan (Partner).
The said transaction comprised sale of the business undertaking (related to developing and promoting railway warehouses and providing seamless supply chain management system and rail-based logistics) of CRWC by way of slump sale as an inseparable, whole and on a going concern basis, to CWC, pursuant to execution of business transfer agreement (BTA) and other ancillary agreements and documents.
CWC is a body corporate incorporated and established under the Warehousing Corporations Act, 1962.
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